Intuit reaffirms its financial forecast

MichelleDonley

NEW YORK (MarketWatch) -- Intuit Inc.
INTU, -0.49%
said Wednesday that it is reaffirming its forecast for the first quarter and fiscal year 2010. The maker of tax-preparation software said it expects to report a loss of 24 cents to 28 cents a share in its first quarter, and a loss of 15 cents to 19 cents a share on an adjusted basis. For the full fiscal year, it sees a profit of $1.49 to $1.56 a share and an adjusted profit of $1.89 to $1.96 a share. On average, analysts polled by FactSet Research were expecting a loss of 15 cents a share for the first quarter and a profit of $1.93 for the full year. The company added that it expects to cut its full-year per-share forecast by about 3 cents and its adjusted forecast by about 2 cents after its deal to buy Mint.com closes.

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